New Delhi: Get ready people for the most important day of the year as Finance Minister Arun Jailtey presented his  his maiden budget for 2015-16 in the parliament today.

Beginning of Budget speech by saying that the world is predicting that it is India’s chance to fly, Jatiley said that several steps undertaken to energise the the Indian economy.

Jaitley said that current account deficit is likely to 1.3 % of Gross Domestic Product (GDP).

Jaitley said that there is no change in income tax slabs, however he slashed the excise duty from 12 percent to 10 percent on capital goods and consumer durables.

He said that the people of India have voted for growth and transparency and added that  Budget proposals lay down roadmap for economic growth.

Jaitley also said that the government is aiming for Double Digit Rates seems to be possible soon.

He also said that the rupee has become stronger by 6.4 percent while the GDP is likely to accelerate at 7.4 percent.

Jaitley said that Foreign exchange reserves have risen to $340 billion whereas 80,000 secondary schools need to be  upgraded.

Delivering a good news for rural areas, Jaitley said that Electrification of Villages by 2020.

He also said that Goods and Services Tax, JAM trinity (Jan Dhan Yojna, Aadhar, Mobile number) to ensure transparency

He furher added that Our achievement to conquer inflation, CPI inflation at five percent by year-end.

Jaitley, in his maiden budget, said that Housing for all by 2022 by delivering budget proposal of 2 crore in rural areas and 5 crore in urban areas.

He also said that Farm Credit Target set at 8.5 lakh crore and added that LPG direct tranfer subsidy to be expanded also.

Jaitley said that National Agri Market to increase the income of the farmers  and stated that MNREGA to get Rs. 34,699 crore for the central government.

He also said that New Pension Scheme will be implemented for the poor and added that Atal Pension Plan has been launched aimed at Indians above 60.

Jaitley also said that 70,000 crore has been boosted for Infrastructure by the centre and added that the government will bring a comprehensive bankruptcy code in 2015-16.

He also added that PPF and EPF corpus to be utilised for senior citizens’ welfare fund while Universal social security system for all Indians, especially poor and disadvantaged sections.

Jaitley said that the total public investment will be Rs 1.25 lakh crore and DBT will be further expanded from 1 crore to 10.3 crore.

In his budget speech, Jaitley said that the government is committed to increasing access of people to the banking system and also said that five ultra mega power project to be set up soon.

Jaitley said that the government has introduced a new gold monestation scheme which will cut overseas Gold demand and added that Integrated education and livelihood scheme to be launched soon.

Sovereign gold bonds to be introduced; working on developing Indian gold coin with Ashok Chakra on face, says Jaitley.

Jaitley has announced additional Rs. 1000 crore for Nirbhaya Fund and also added that the government will promote cashless transactions to curb black money.

He also said that IIMs will be set up  in Jammu and Kashmir, and Andhra Pradesh whereas AIIMS in Jammu and Kashmir, Punjab, Tamil Nadu, Assam. Centre for Film Production and Animation will be set up in Arunachal Pradesh.

He further added that Rs. 75 crore for electric cars production and said that World Heritage Sites like churches and convents of old Goa, Hampi, Elephanta caves, Leh palace, Varanasi temple town, Jallianwala Bagh etc., will be developed to make them more tourist-friendly.

Public Debt Management Agency to be set up to strengthen the bond market, says Jaitley.

He also said that Corporate Tax has been reduced to 25 percent and introduced a new black money law under which the black money holders will be imprisoned for 10 years.

Jaitley also said that Centenary of Deen Dayal Upadhyay to be celebrated; committee  to be set up soon.

He also said that Adequate provision for defence with Rs.246,727 crore assigned this year.

Implementation of GAAR deferred by two years and further added that 2 percent surcharge on the Super Rich introduced.

Finance Minister reduced custom duties on 22 items while  Non-Plan expenditure in 2015-16 estimated at 1,312,200 crore and Plan expenditure estimated at Rs.465,277 crore.

Tax collection in 2015-16 estimated at Rs.1,449,490 crore, says Jaitley.

Jaitley said that Serive Tax has been increased to 14 percent from 12.36 percent while transport allowance has been doubled to Rs. 1600 per month from 800.

Wealth Tax to be abolished  and Excise duty on footwear with leather uppers to be reduced to six percent, says Jaitley.

Jaitley proposed to raise visa-on-arrival facility to 150 countries from 43 and added that the government will set up public debt management agency.

He proposed tax-free infrastructure bonds for projects in roads, rail and irrigation projects and Ports in public sector will be encouraged to corporatize under Companies Act.

On Saturday morning, the BSE Sensex jumped over 250 points in morning trade and now trading at 29,350.

He said that 50 lakh toilets have already been built, delivered an assurance that we will reach our goal of 6 crore toilets.

In his maiden budget, Jaitley said that the government will allocate 25000 crore in 2015 to rural development fund.

He also proposed the ‘Nayi Manzil’ scheme for the youth minorities and added that Kundanlkulam Nuclear Power plant will be commissioned in the year 2015-16.

He also announced an increase in the prices of cigarettes, bidis, pan masalas, aerated drinks and colas.

NRI Fund for Ganga will be set up which will finance special project, says Jaitley.

Rs. 200 crore for upgrading the indoor and outdoor sports stadiums to international standards in Jammu and in Kashmir Valley.

He also propose to set up a sports university in Manipur. For this I am providing a sum of Rs 100 crore in the current financial year.

Customs duty on LCD and LED TV panels of below 19 inches from 10 percent to Nil.

Jailtey also increased in limit of deduction of health insurance premium of Rs. 15,000 to Rs. 25,000. For senior citizens, limit will be Rs. 30,000. Very senior citizens – Rs. 30,000 deduction on expenses incurred.

He also increased the prices of Cigarettes, luxurious restaurants, air fare, internet usage, gyms, beauty parlours etc.

He proposed 100% deduction for contribution to Swachch Bharat and Clean Ganga schemes.